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Back to the drawing board

  • Thread starter Thread starter piquant
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piquant

piquant

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Hi,

I went through the application process for an MFE program recently, and I'm realizing that this field is a lot more competitive than I had thought.

I have several ideas for things that would show math ability and interest in finance, and it would be great if some of you out there could tell me which of these would be helpful/feasible.

1) do well on the math subject test
2) try to get a job closer to finance (not sure what kind)
3) try to publish a paper
4) pass an actuarial exam
5) become really knowledgeable about MFE material, like by reading Neftci's textbook
6) do some independent coding project in C++

Looking forward to any suggestions.
 
Last edited:
Hey Piquant,

Being an MFE applicant, I have a decent, all-round idea of what the admission committee generally seeks. I'll answer all your questions and hopefully, in return, you will answer my questions regarding your perfect GRE scores both in quant and in verbal:

1) You certainly do not need to take the math subject test. On the other hand, doing well in undergrad math courses and the quantitative section of the GRE well compensates the 'low' GPA (Which is not really that low, to begin with) and are great evidence of your analytical and academic capabilities.

2) Sure, it would help but it is not a necessity; most graduate programs prefer if you have some kind of work experience in finance (I personally believe they prefer it because it would easier for students to land a job post-MFE). It is also noteworthy to mention that I have seen A LOT of people get into MFE programs with no work experience whatsoever.

3) Publishing a paper might help you getting a better and a more credible letter of recommendation from your professor, but since most MFE programs are professional ones, publishing a paper will not help in that regard.

4) Passing the levels of the coveted CFA, SoA, and FRM certificates will definitely your profile by showing evidence of your interest in finance and it will also help in getting a job afterwards. Always a good sign.

5) Becoming really knowledgeable about MFE is somewhat difficult to demonstrate to the admission committee, since you do not want to sound too technical when writing your essays. However, if you are able to concisely demonstrate your MFE knowledge to the admission committee, it will help your profile.

6) Programming is definitely something important for the MFE and you could demonstrate it by doing well in undergrad courses or professional work experience. If you have done some meaningful independent programming in an object-oriented programming language, you could mention it. But keep in mind that that any person could mention 'independent work' and it will be difficult for him/her to prove it.

P.S. The answers I provided are general for MFE, Masters in Financial Mathematics, and Masters in Finance (Quantitative-oriented). For specific details regarding admission, you should view their website.
 
Thanks Abdullah. Your answers are a bit vague, but not a bad starting point. Would be nice to have an MFE graduate answering :)

What are your GRE questions? Did you post them somewhere else?
 
Hey Piqaunt,

Sorry about being vague, but as I mentioned I tried giving you a general answer.

My GRE inquiry comes down to one question: How did you prepare for it? Lol
 
Oh haha. Well I wish I could tell you some magic secret, but the way to do well is to be really familiar with the kinds of questions they ask. Many MFE applicants get high scores on the math- all you need to do is move quickly through the material and not fall for any traps. I'm assuming your question is about the verbal. Reading comprehension isn't easy but it can be built up by having a daily routine of reading articles and asking "what is the main idea", "what is the point of this paragraph" etc. And for vocab it's flashcards- memorize, memorize, memorize.
 
Hi Andy,

Thanks for the link.

I've read that and a few other threads, and they seem to be mainly describing the qualities of a good applicant, and generally aimed at current undergraduates. What I'm looking for is a thread that says, "here's what you can do after you graduate if you don't fit the mold of the perfect applicant, to show that your potential is better than what you have on paper."
 
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